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Bolani: Central Bank initiative will provide thousands of homes and jobs if employed correctly
10/08/2015
BAGHDAD
The head of the economic and investment commission in the House of Representatives Jawad al-Bolani, the central bank initiative to support the specialized banks will contribute to the development of several vital sectors, and pointed out that it will provide thousands of homes and jobs if they "hired properly", while stressing the necessity of activating the initiative and sustain.
Said Jawad al-Bolani said in an interview to the (long-Presse), "The launch of the Central Bank initiative to support the specialized banks is one of the important initiatives being will contribute to the development of several sectors of vitality", stressing that "the initiative can provide thousands of homes and jobs to the Iraqis if they are invested properly ".
He said Bolani, that "the initiative need to fast activating and sustaining by the relevant banks to create job market and good environment for the private sector and prevent the import of the unjust materials can be manufactured within the country."
The central bank announced on Saturday (August 8, 2015), launch initiative to support the agricultural, industrial and real estate and housing fund sector banks with loans amounting to five trillion dinars, with the exception of the initiative "a good step" for the recovery of the economic situation and liquidity, and stressed that they come to avoid foreign loans.
The World Bank has approved, in (July 9, 2015), a new project for Iraq aims to the reconstruction and rehabilitation of infrastructure destroyed by conflict in the country and restoration of services in the government-controlled areas, and among the assistance program of $ 350 million, confirmed that the program is part of a larger program will be implemented over five years in the provinces of Salahuddin and Diyala.
The Parliamentary Finance Committee confirmed, in the April 30, 2015, they are passed to the government borrowing to fill the budget deficit and meet the necessary requirements under the state of war with "terrorism", and as pointed out that Iraq will receive a value of three billion and 400 million dollars from the International Monetary Fund and World Bank loans International, revealed a tendency to privatize the stalled viewing of Astosmar.okan World Bank government projects revealed, in the April 29, 2015, about his quest finance development projects in the areas of restored Iraqi forces from militants (Daash), it returned to economic growth as an important part of the solution to political problems "plagued the region."
The estimated funding sources in Article III of the budget bill for 2015 of $ 6,168,040,000 dinars, this amount is used to cover the budget deficit and repay domestic and foreign loans and amortization of domestic debt payments, and amortization of Eurobonds, and extinguish religion's central bank bonds.
complain Iraq than double Finance due to declining oil prices and increased expenses, which the military side came on her head, which made the government resort to austerity as one of the solutions adopted to cope with the economic situation of the country that its revenues.
The International Monetary Fund forecast, in (March 21, 2015), the high proportion of the budget deficit in 2015 to more the proportion of 12% announced by the government, to "significantly higher levels", due to lower oil prices, and a weak possibility of Iraq's commitment to export 3.3 million barrels per day, and assume the budget, and the proposed implementation of reform measures strict include austere in investment projects, and a commitment to reducing expenses, and re considering the limits of central bank sales of the currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.
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10/08/2015
BAGHDAD
The head of the economic and investment commission in the House of Representatives Jawad al-Bolani, the central bank initiative to support the specialized banks will contribute to the development of several vital sectors, and pointed out that it will provide thousands of homes and jobs if they "hired properly", while stressing the necessity of activating the initiative and sustain.
Said Jawad al-Bolani said in an interview to the (long-Presse), "The launch of the Central Bank initiative to support the specialized banks is one of the important initiatives being will contribute to the development of several sectors of vitality", stressing that "the initiative can provide thousands of homes and jobs to the Iraqis if they are invested properly ".
He said Bolani, that "the initiative need to fast activating and sustaining by the relevant banks to create job market and good environment for the private sector and prevent the import of the unjust materials can be manufactured within the country."
The central bank announced on Saturday (August 8, 2015), launch initiative to support the agricultural, industrial and real estate and housing fund sector banks with loans amounting to five trillion dinars, with the exception of the initiative "a good step" for the recovery of the economic situation and liquidity, and stressed that they come to avoid foreign loans.
The World Bank has approved, in (July 9, 2015), a new project for Iraq aims to the reconstruction and rehabilitation of infrastructure destroyed by conflict in the country and restoration of services in the government-controlled areas, and among the assistance program of $ 350 million, confirmed that the program is part of a larger program will be implemented over five years in the provinces of Salahuddin and Diyala.
The Parliamentary Finance Committee confirmed, in the April 30, 2015, they are passed to the government borrowing to fill the budget deficit and meet the necessary requirements under the state of war with "terrorism", and as pointed out that Iraq will receive a value of three billion and 400 million dollars from the International Monetary Fund and World Bank loans International, revealed a tendency to privatize the stalled viewing of Astosmar.okan World Bank government projects revealed, in the April 29, 2015, about his quest finance development projects in the areas of restored Iraqi forces from militants (Daash), it returned to economic growth as an important part of the solution to political problems "plagued the region."
The estimated funding sources in Article III of the budget bill for 2015 of $ 6,168,040,000 dinars, this amount is used to cover the budget deficit and repay domestic and foreign loans and amortization of domestic debt payments, and amortization of Eurobonds, and extinguish religion's central bank bonds.
complain Iraq than double Finance due to declining oil prices and increased expenses, which the military side came on her head, which made the government resort to austerity as one of the solutions adopted to cope with the economic situation of the country that its revenues.
The International Monetary Fund forecast, in (March 21, 2015), the high proportion of the budget deficit in 2015 to more the proportion of 12% announced by the government, to "significantly higher levels", due to lower oil prices, and a weak possibility of Iraq's commitment to export 3.3 million barrels per day, and assume the budget, and the proposed implementation of reform measures strict include austere in investment projects, and a commitment to reducing expenses, and re considering the limits of central bank sales of the currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.
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